GCC Liner Hangers Market

GCC Liner Hangers Market Overview

Liner hanger is a mechanical or hydraulic, conventional or expandable, rotating or non-rotating, tool/system used to hang liner in a production well. Liner hanger has several advantages including ultra-high hanging capacity, high bypass, impressive tensile, compressive load capabilities, reduces completion complexity & rig time. Line hanger technology in GCC is widely used in the oil and gas, deep water as well as geothermal well applications.

To have an edge over the competition by knowing the market dynamics and current trends of “GCC Liner Hangers Market,” request for Sample Report here

Major GCC Liner Hangers Market Drivers

Major driving factor for the growth of the liner hanger market includes rising demand for the deep water wells and ultrahigh temperatures for geothermal applications, increasing demand for higher productivity and efficiency with single rig employing in the long lateral drilling methods, rising adoption of the advanced technology based oil & gas exploration. For instance, according to the OPEC organization report, GCC countries hold 42 trillion cubic meters (TCM) of gas reserves that accounted for 22% globally while GCC countries oil- is responsible for producing about 27% of world’s total oil production. It created massive demand for the liner hanger in GCC region used in the oil & gas exploration activities.

Liner Hanger Market in Saudi Arabia has the highest demand due to higher oil production activities which requires liner hanger for carrying out these exploration activities efficiently. For instance, according to the OPEC organization, Saudi Arabia accounted for 9,808.2barrel per day production which expected to strengthen the liner hanger market in Saudi Arabia.

Also, the demand for the liner hanger market is driven by increase in the investment for deep water wells to extract the water for drinking, residential and commercial purpose with surge in the government initiatives in this region. For instance, in 2019, one of the UAE’s largest industrial National Petroleum Construction Company, NPCC Company owned by the Government of Abu Dhabi has invested USD 81.6 Million for deep water projects expansion of its fleet with a new vessel, the Delma 2000.

Restraining Factor for the GCC Liner Hangers Market

Challenges regarding the availability of raw material in the GCC region and risk associated with the failure of liner hanger systems may hamper the GCC liner hanger market growth.

Do you want to know more about the Research process and detailed Methodology, Request Research Methodology of this report

The growing application of line hanger market in the Gulf countries for oil and gas exploration activities with surge in the expansion and discovery of new oils strengthens the market growth. For instance, in Nov, 2020, Abu Dhabi’s Supreme Petroleum Council (SPC) has approved USD 122 Billion for Abu Dhabi National Oil Company for 2021-2025. The company also announced the discovery of 22 Billion barrels of unconventional oil reserves and 2 Billion barrels of conventional oil reserves. It created massive demand for the growth of the liner hanger market growth.

In case, any of your pain points areas are not covered in the current scope of this report, Request for Free Customization here

Key Developments:

• • In 2017, first expandable liner-hanger was installed in UAE in an HP/HT Well. The installation includes planning and deployment of an expandable-liner-hanger (ELH) system in an offshore high-pressure/high-temperature (HP/HT) well in the United Arab Emirates (UAE).
  • In 2017, Packers Plus Energy Services launched innovative anti-preset Prime SET liner hanger system. Its features include high reliability and performance which offers time and cost savings for operators.

For detailed scope of the “GCC Liner Hangers Market” report request a Sample Copy of the report